The Role of Financial Sector Development in Industrialization in Indonesia

Jurnal Dinamika Ekonomi Pembangunan

View Publication Info
 
 
Field Value
 
Title The Role of Financial Sector Development in Industrialization in Indonesia
Peran Perkembangan Sektor Keuangan Terhadap Industrialisasi di Indonesia
 
Creator Putra, Hari Setia
Sa`bani, Shagi Ratu
Ananda, Syifa
Vidriza, Ullya
 
Description The aim of this research is to analyze the impact of financial development in industrialization in Indonesia for the period 1990 to 2019 using time series data. The data used are ratio of broad money to GDP, ratio of domestic credit to private sector to GDP, and interest rate spread. The results of the pairwise granger causality test in the VECM analysis phase prove that there is a one-way relationship beetwen domestic credit to private sector ratio with broad money ratio and broad money ratio with interest spread rate. Meanwhile, the interest spread rate and domestic credit to private sector ratio have a two-way relationship. Impulse response results show that the industry value added ratio responds most to interest spread rate shocks compared to other variables. Variance decomposition results show that the contribution given by interest spread rate to the industry value added ratio is relatively the largest compared to the contribution given by broad money ratio and domestic credit to private sector ratio.
Tujuan penelitian adalah untuk mengetahui dampak pembangunan sektor keuangan terhadap industrialisasi di Indonesia selama periode 1990 sampai 2019 dengan menggunakan data deret waktu. Data yang digunakan adalah rasio jumlah uang beredar terhadap PDB, rasio kredit domestik sektor swasta terhadap PDB dan interest spread rate. Hasil uji kausalitas granger pairwise dalam tahapan analisis VECM membuktikan bahwa terdapat hubungan satu arah antara rasio kredit domestik sektor swasta dengan rasio jumlah uang beredar dan rasio jumlah uang beredar dengan interest spread rate. Sedangkan variabel interest spread rate dan rasio kredit domestik sektor swasta memiliki hubungan dua arah. Hasil impulse response menunjukkan bahwa variabel rasio industry value added paling merespon guncangan variabel interest spread rate dibandingkan variabel-variabel lainnya. Hasil variance decomposition menunjukkan bahwa kontribusi yang diberikan variabel interest spread rate terhadap rasio industry value added relatif paling besar dibandingkan dengan kontribusi yang diberikan variabel rasio jumlah uang beredar dan rasio kredit domestic sektor swasta,
 
Publisher Universitas Pembangunan Nasional Veteran Jawa Timur
 
Date 2021-09-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
Identifier http://jdep.upnjatim.ac.id/index.php/jdep/article/view/221
10.33005/jdep.v4i2.221
 
Source Jurnal Dinamika Ekonomi Pembangunan; Vol 4 No 2 (2021): JDEP - Jurnal Dinamika Ekonomi Pembangunan
2614-2546
10.33005/jdep.v4i2
 
Rights Copyright (c) 2021 Hari Setia Putra, Shagi Ratu Sa`bani, Syifa Ananda, Ullya Vidriza
http://creativecommons.org/licenses/by/4.0
 

Contact Us

The PKP Index is an initiative of the Public Knowledge Project.

For PKP Publishing Services please use the PKP|PS contact form.

For support with PKP software we encourage users to consult our wiki for documentation and search our support forums.

For any other correspondence feel free to contact us using the PKP contact form.

Find Us

Twitter

Copyright © 2015-2018 Simon Fraser University Library